The company said the adoption of the rights plan is in the best interests of its stockholders and designed to ensure that all stockholders realise the long-term value of their investment in the company.
Each right will initially entitle stockholders to buy one share of common stock of the company, at an exercise price of
In general, the rights will become exercisable if a person or group of affiliated or associated parties becomes the beneficial owner of 20% or more of the outstanding common stock of the company or announces a tender offer for 20% or more of the outstanding common stock of the company.
The stock was quoted up 11.1% at
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